Time frame 1 day. Logarithm. Secondary trend. Expanding triangle. Reversal zone. Key levels are shown.
Dates marked the key time zones of potential events that can greatly affect the markets and the index of the American economy in the first place.
The end of October and the beginning of November will most likely be unnecessarily wavy in the markets. If so, don't miss your chance to “accidentally get rich”.
This is how it looks on a line chart.

Dates marked the key time zones of potential events that can greatly affect the markets and the index of the American economy in the first place.
The end of October and the beginning of November will most likely be unnecessarily wavy in the markets. If so, don't miss your chance to “accidentally get rich”.
This is how it looks on a line chart.
Note
289/44Note
We can overlay a downtrend channel on the expanding triangle to visualize a potential reversal zone (3491-3378), if the full price fall targets of the expanding triangle are not realized.
Also do not forget although the local uptrend is broken, a break and fixation above 3911 (3/911) can stop the fall.
The chart showed two Stop-Loss breakout zones before trend reversals.
1) The first before a significant rise of +18.92% Stop-Loss long.
2) The second one now. Stop-Loss short.
Watch the index. Limit losses. Protect profits. When working on the shorts, be sure to use Stop-Loss now, but with an understanding of where to put it, so as not to knock out before the time. Do not be greedy and cowardly. If a downtrend develops (breakout 38 44), be sure to drop your stop after the decline (profit protection).
Note
If there is a breakout on the 5th attempt and a consolidation above the downtrend secondary - positive on the markets. Pump Cycle. The trend right now is that the inflation rate is supposedly going down. This is a positive.
If this fractal structure works out as it did before, sad. Working off the downward expanding triangle targets. But, if that happens, there must be a grand event in the USA ("black swan").
Note
Positive (January 26) about the decrease of inflation rate raised the price of the index to the level of 4084.19. Thereby forming a bowl. An important resistance zone before the Fed meeting on February 1 on the rationality of interest rate cuts. It is very likely to be positive. If that happens, the index price will move out of the expanding downward triangle zone for a while...
Note

Also possible is consolidation under the 4630 resistance as its centerpiece for an extended period of time, then depending on the political plans, an upside breakout and excitement or, conversely, a significant pullback. It is likely that some political "bullshit" news will "tweak" the chart.
It is important that a large bowl has formed on the secondary trend. It is clearly visible on the line chart. Therefore, when pulling back from its resistance to continue the trend (so as not to scare investors with overbought), the formation of a bowl with a handle is quite appropriate.
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✅ Telegram. Finance + Trading: t.me/SpartaBTC_1318
✅ Telegram. Сrypto trading only: t.me/SpartaBTC_tradingview
✅ Instagram: instagram.com/spartabtc_1318
✅ YouTube (Rus): goo.su/vpRzRa2
✅ Telegram. Сrypto trading only: t.me/SpartaBTC_tradingview
✅ Instagram: instagram.com/spartabtc_1318
✅ YouTube (Rus): goo.su/vpRzRa2
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.